Suburb Profile Report for Rivervale WA (6103)

Rivervale House: Median price $500,500, Annual capital growth 0.32%, Number of sales 100, Weekly median advertised rent $365

Rivervale Unit: Median price $320,000, Annual capital growth -1.98%, Number of sales 96, Weekly median advertised rent $350

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Investment property in Rivervale has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.32%

If we look at median property appreciation over just the last three months, Rivervale has given property investors a paper return of -3.75%. This puts Suburb as 384 on a list of fastest fasting appreciating suburbs in WA

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Rivervale, 6103. Typically our figures indicate that -5.81% is being offered, which puts this WA suburb at 1895th most discounted overall in Australia.

Often selling an investment property can take time, and in Rivervale the average time real estate has been on the market is 57.716 days.

At number 1204th in the list of Australian suburbs ordered by increase in median house value over the last year, Rivervale, 6103 is in the BOTTOM 30% with a property value increase of -7.25% recorded in median house prices.

Across a shorter period, Rivervale, 6103 has seen a median price increase of 2.73% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that Rivervale is offering property investors an average of -8.81. This rate of discount on properties puts Suburb at number 10th in terms of most discounted suburbs in WA

Often selling an investment property can take time, and in Rivervale the average time real estate has been on the market is 90.7231 days.

With the median price for a house in Rivervale being $320000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 5.69%

Damian Collins Information supplied by:

Damian Collins
Momentum Wealth

M 0412 876 851
O

W http://www.momentumwealth.com.au/
E damianc@momentumwealth.com.au
Over the last year, property investments in Rivervale, 6103 have given investors a capital gain of 10.89%. This compares very favourably with the 4.41% for WA as a whole.
 
The five-year average increase in median property values for Rivervale,6103 has given property investors a potential capital gain of 12.22% across each of those five years.
 
Rivervale, 6103 is offering WA ‘s 250th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this WA.
 
The WA suburb of Rivervale, 6103 is in the Belmont local government area.
 
Selling points: 
Rivervale’s proximity to the CBD and to the airport is the major selling point of the suburb. FIFO workers are attracted to the area due to this location and the relatively low price it demands in comparison to other suburbs in the same proximity to the city. Development is poised for the eastern gateway of the CBD in the suburb of Burswood which neighbours Rivervale. This will create greater amenities in the area which should reflect positively on capital values. 
 
Most sought-after properties: 
Older aged houses on full block properties with development potential. 
 
Most common properties:  
To the north of Great Eastern Highway apartments dominate the area, however to the south a veritable mix of older 1950/60/70s houses on full blocks and recently developed townhouses and villas are common.
 
Top amenities: 
The suburb is located on the Swan River. The amenities in the suburbs surrounding Rivervale include Belmont Forum and the Burswood Entertainment Zone. The property has good access through Great Eastern Highway and Orrong Road.
 
Local industry and business:
The Belmont commercial/industrial zone is located at the north of the suburb. 
 
Recent changes: 
Zoning to a residential density that facilitates development recently got put in place which is creating gentrification of the area. The Crown Complex neighbouring the south of the suburb has been upgraded and has future upgrades panned.
 
Best streets: 
The top end of Rivervale around Newey Street. They are the closest to the train and other amenities. As well as being away from state housing this is prevalent in the area.
 
Public transport: 
The train is a short walk from the very north-western portion of the suburb. Buses run frequently up Great Eastern Highway and along Alexander Rd and Kooyong Rd.
 
Main arteries: 
Great Eastern Highway and Orrong Rd are the main roads which link the suburb to the City Centre and to the airport.

 

Metrics i HOUSE UNIT
$500,500 $320,000
-3.75% 2.73%
1.32% -7.25%
0.32% -1.98%
$365 $350
100 96
3.79% 5.69%
57.7160493827161 90.7230769230769

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Balanced (U)
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Demographics
Total population 8402
Median household income ($/weekly) 1292
Median age of persons 33
Median housing loan repayment ($/monthly) 2080
Average household size 2.2
  • Census Count Percent(%)
    20-24 years 823 9.8
    25-34 years 1949 23.2
    35-44 years 1235 14.7
    45-54 years 1002 11.9
    55-64 years 771 9.2
    Others 2622 31.2
    Age Group
    Census Count Percent(%)
    Not Married 3232 51.6
    Registered Married 2313 36.9
    Defacto Relationship 718 11.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 4379 57.4
    Indonesia 291 3.8
    Papua New Guinea 313 4.1
    United Kingdom 483 6.3
    Other 716 9.4
    Others 1451 19.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 345 4.7
    Christianity 4192 57.1
    Hinduism 177 2.4
    Islam 447 6.1
    No Religion 2002 27.3
    Others 177 2.4
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 270 8.8
    $400-$599 289 9.4
    $1,500-$1,999 361 11.7
    $2,000-$2,499 268 8.7
    $2,500-$2,999 317 10.3
    Others 1574 51.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3009 46.1
    Not in the labour force 1952 29.9
    Employed, worked part-time 1090 16.7
    Unemployed, looking for work 241 3.7
    Employed, away from work 240 3.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 485 11.2
    Professionals 1019 23.5
    Technicians & trades workers 663 15.3
    Community & personal service workers 423 9.8
    Clerical & administrative workers 606 14.0
    Others 1141 26.3
    Occupation
    Census Count Percent(%)
    Infants/Primary 413 25.7
    Secondary 272 16.9
    Technical or Further Educational Institution 261 16.2
    University or other Tertiary Institutions 500 31.1
    Other type of educational institution 94 5.8
    Others 68 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4742 62.9
    Flat, unit or apartment 1786 23.7
    Semi-detached, row or terrace house, townhouse 1010 13.4
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1722 51.6
    Being purchased 948 28.4
    Fully owned 650 19.5
    Other tenure type 19 0.6
    Tenure Type
Census 2011, ABS
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